Apple may initially ship more than 90 million iPhone 16 models, up double digits YoY – Wedbush

Anticipation for Apple’s upcoming iPhone 16 release is reaching a fever pitch, with investment firm Wedbush Securities predicting a record-breaking launch. Their analysis suggests initial shipments could eclipse a staggering 90 million units, signifying a potential double-digit increase over last year’s iPhone 15 launch.
Chris Ciaccia for Seeking Alpha:
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“We now believe initial iPhone 16 shipments will be closer to 90 million (with upside movement likely as we get closer to launch date in September) vs. original Street expectations in the 80 million to 84 million range and up double digits YoY,” Wedbush analyst Dan Ives wrote in an investor note.
It was reported earlier this week that Apple is likely to ship at least 90M iPhone 16 units before the end of 2024, up 11% year-over-year compared to the iPhone 15 line.
“We believe the Street is now starting to slowly recognize that with Apple Intelligence on the doorstep in essence Cupertino will be the gatekeepers of the consumer AI Revolution,” Ives wrote. “Developers and other technology stalwarts (Meta, Google could be in the near term mix in our view) will likely now need to integrate their AI models/technology into Apple Intelligence looking ahead as Apple and its golden iOS ecosystem hold the only keys to the castle of 2.2 billion iOS devices worldwide and 1.5 billion iPhones.”

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MacDailyNews Note: Wedbush maintains an “Outperform” rating on Apple stock with a $275 price target.
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